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June 14, 2023
IFE: Catastrophe risks are a priority
Mr Alaa Al-Zoheiry, BOD Chairman of the Insurance Federation of Egypt, said that they aim to provide coverage for citizens against natural hazards and to protect the state property. Source: Regal Al Amal
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arabre
June 14, 2023
The UAE tightens insurance requirements for ships flying their flags
The UAE said it would tighten insurance requirements for ships flying their flags; amid growing concerns that ships could sail without first-class cover and be exposed to oil spills. Source: Al Rai Media
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arabre
June 14, 2023
Bahrain: 23.43m BHD as profits of 5 joint-stock insurance companies
The total profits of insurance companies listed on the Bahrain Bourse amounted to 23.43 million BHD in year 2022, same as year 2021. Source: Al Watan News
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arabre
June 14, 2023
Over $150bn in fees and commissions earned from insurance broking activity in 2022
Worldwide, total fees and commissions earned from insurance broking activity in 2022 were worth over $151.4bn, up from around $137bn in 2021, according to Insuramore, a provider of marketing services focusing on the insurance sector. Source: Reinsurance News
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arabre
June 6, 2023
Algeria: Govt working to develop parametric insurance
Algeria has begun work on launching parametric insurance to cover crops against certain natural disasters (drought, forest fires, etc), Mr Benseidi Abdallah, CEO of the reinsurer, Compagnie Centrale de Réassurance (CCR), has said. Source: Middle East Insurance Review
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arabre
June 6, 2023
Turkiye: Disaster pool reviews proposal to double Nat CAT insurance coverage
The Turkish Catastrophe Insurance Pool (TCIP) has started studies on a plan to double the maximum disaster insurance coverage to TRY1.28m ($61,850) from TRY640,000 at present for a residential property. Source: Middle East Insurance Review
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arabre
June 6, 2023
Saudi Arabia: merger of Saudi Enaya & UCA
Saudi Enaya and the United Cooperative Assurance signed a binding merger agreement through the exchange of securities, according to the two companies’ disclosure to the Saudi stock market. Source: Al Morakeb Group
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arabre
June 6, 2023
GAIF: renewal of Mr Chakib Abouzaid mandate for 4 years
The Executive Committee and the Board of the General Arab Insurance Federation decided to renew the mandate of Mr Chakib Abouzaid as Secretary General for a period of 4 years. Source: Amwal Al Ghad
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arabre
May 31, 2023
A fine of up to 2 million riyals for practicing insurance business without license in Saudi Arabia
The Insurance General Committee (IGC) for The Insurance Companies, which is a subcommittee of Insurance Executive Committee, and under the supervision of the Saudi Central Bank “SAMA”, launched the “Stay Aware” campaign to raise public awareness about the purchase of vehicle insurance policies from unlicensed parties. Source: Mubasher
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arabre
May 31, 2023
Kuwait: 21.5 KWD “insurance” profits for the Q1, a growth of 24.5%
The profits of the insurance sector in the Kuwait Stock Exchange for the first quarter of year 2023 increased by 24.5% for the same period of year 2022. Source: Al Jarida
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